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Blaize, an AI chip startup founded by former Intel engineers, is set to go public on the Nasdaq through a SPAC deal on January 16, 2025. Established in 2011 and headquartered in El Dorado Hills, California, Blaize focuses on manufacturing AI chips for edge applications, such as security cameras and drones, rather than for large data centers like its competitor Nvidia.
Despite being unprofitable—with a reported loss of $87.5 million on $3.8 million in revenue in 2023—Blaize has secured $400 million in potential deals, including a significant contract with a defense entity in the EMEA region. CEO Dinakar Munagala anticipates the company will be valued at $1.2 billion after the merger. Blaize aims to capitalize on the growing demand for AI technology integrated into physical products, emphasizing practical real-world applications.
